Petrol Price Malaysia (RON95, RON97 & Diesel) 19 – 25 January 2019
Official Fuel price Malaysia for 19 – 25 Jan 2019 :
RON95 : RM1.98 (UP RM0.06)
RON97 : RM2.28 (UP 0.06)
Diesel : RM2.17 (UP RM0.12)
Actual fuel price will announced here once official information received.
The retail price of petroleum products including RON95 petrol will be cheaper from Jan 1 onwards.
Finance Minister Lim Guan Eng said this follows the move by the government to streamline the price of petroleum product prices on a monthly basis, in line with the global market price of crude oil.
He said the move would prove to be more beneficial to consumers.
Lim also announced that the government would be returning to a weekly float for the RON95 petrol price from Jan 1 onwards.
He said if global oil prices were to increase weekly, the rise in retail oil prices would be controlled and limited to RM2.20 per litre for RON95 and RM2.18 for diesel.
“In line with the current oil market price decline, the government will adjust the retail price of petroleum products including RON95 to lower prices from January 1, 2019 onwards.
“This as the retail prices of petrol products are done through on a monthly basis,” he said in a statement here.
Lim said the government currently sets fuel prices on a monthly average basis, which will only be reflected the following month.
He said the price of petrol is determined based on the formula of Automatic Pricing Mechanism which takes into account the average cost of processed petroleum products, according to reference of Mean of Platts Singapore and foreign exchange rates in the previous month.
“In this matter, the changes in the price of fuel in Dec 2018 will only result in a reduction in fuel prices in Jan 2019,” he said.
“This is in line with the 14th General Election manifesto which called for the people to benefit and ensure their wellbeing from lower oil prices but at the same time help those in the B40 category when the oil prices increase.